AITrades rolls out in Philippines

This after the company unveiled its automated teller machines (ATMs) dedicated to buying and selling bitcoins.

These “cryptomatic” machines, as they are called, are currently being used in over 20 countries all over the world.

Now, that list already includes the Philippines.

“Philippines is a very important market,” says AITrades Chief Communications Officer Mark Davis during the event launch. “There is a huge following of cryptocurrencies here.”

AITrades Philippines President RV Palafox is quick to delineate between what the company is and is not.

“AITrades Philippines is not a trader, ” Palafox says in the same event. “It is a cryptocurrency management company that uses the power of artificial intelligence to give accurate cryptocurrency-related data so investment decisions can be made almost instantenously.”

One of the identified targets of the company’s bitcoin operations is remittances especially since the number of overseas Filipino workers (OFWs) have consistently risen year after year.